JPMorgan Chase & Co. Cuts NVR (NYSE:NVR) Price Target to $8,570.00

NVR (NYSE:NVR) had its price objective decreased by JPMorgan Chase & Co. from $9,245.00 to $8,570.00 in a research note issued to investors on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

A number of other research analysts have also weighed in on NVR. Bank of America decreased their target price on shares of NVR from $10,800.00 to $10,600.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com cut NVR from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. UBS Group reduced their price target on NVR from $9,450.00 to $8,750.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Seaport Res Ptn lowered shares of NVR from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 10th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, NVR currently has a consensus rating of “Hold” and a consensus target price of $9,356.67.

NVR Stock Down 1.7 %

NYSE NVR opened at $7,999.06 on Wednesday. The business has a fifty day moving average price of $8,439.94 and a 200 day moving average price of $8,880.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.54 and a current ratio of 6.21. The company has a market cap of $24.48 billion, a P/E ratio of 15.76, a P/E/G ratio of 2.34 and a beta of 1.20. NVR has a one year low of $7,018.03 and a one year high of $9,964.77.

NVR (NYSE:NVR) last issued its earnings results on Tuesday, February 4th. The construction company reported $139.93 EPS for the quarter, beating analysts’ consensus estimates of $132.63 by $7.30. NVR had a net margin of 16.34% and a return on equity of 39.58%. Research analysts anticipate that NVR will post 521.74 EPS for the current fiscal year.

NVR declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 11th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at NVR

In related news, Director David A. Preiser sold 250 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $9,302.64, for a total value of $2,325,660.00. Following the sale, the director now directly owns 239 shares in the company, valued at approximately $2,223,330.96. The trade was a 51.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew B. Kelpy sold 400 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $9,450.00, for a total transaction of $3,780,000.00. Following the transaction, the chief accounting officer now directly owns 208 shares of the company’s stock, valued at approximately $1,965,600. This trade represents a 65.79 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

Institutional Trading of NVR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its stake in shares of NVR by 100.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 4 shares of the construction company’s stock valued at $39,000 after buying an additional 2 shares in the last quarter. Blue Trust Inc. acquired a new position in NVR in the 3rd quarter valued at about $39,000. Rakuten Securities Inc. purchased a new stake in NVR during the third quarter worth about $39,000. Private Trust Co. NA lifted its position in shares of NVR by 66.7% during the third quarter. Private Trust Co. NA now owns 5 shares of the construction company’s stock worth $49,000 after purchasing an additional 2 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of NVR in the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

About NVR

NVR, Inc operates as a homebuilder in the United States. The company operates through, Homebuilding and Mortgage Banking segments. It engages in the construction and sale of single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names. The company markets its Ryan Homes products to first-time and first-time move-up buyers; and NVHomes and Heartland Homes products to move-up and luxury buyers.